AMG National Trust Bank Increases Position in Advance Auto Parts, Inc. $AAP

AMG National Trust Bank boosted its position in Advance Auto Parts, Inc. (NYSE:AAP) by 29.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,403 shares of the company’s stock after buying an additional 12,788 shares during the quarter. AMG National Trust Bank owned approximately 0.09% of Advance Auto Parts worth $2,622,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. REAP Financial Group LLC bought a new stake in Advance Auto Parts in the second quarter valued at about $26,000. Hexagon Capital Partners LLC increased its holdings in Advance Auto Parts by 189.0% in the first quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock valued at $28,000 after buying an additional 465 shares during the last quarter. Parallel Advisors LLC increased its holdings in Advance Auto Parts by 355.8% in the second quarter. Parallel Advisors LLC now owns 939 shares of the company’s stock valued at $44,000 after buying an additional 733 shares during the last quarter. Quarry LP increased its holdings in Advance Auto Parts by 688.6% in the first quarter. Quarry LP now owns 2,421 shares of the company’s stock valued at $95,000 after buying an additional 2,114 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Advance Auto Parts by 15.3% in the second quarter. Blue Trust Inc. now owns 3,278 shares of the company’s stock valued at $152,000 after buying an additional 436 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on AAP shares. Mizuho boosted their price objective on Advance Auto Parts from $44.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Roth Capital reissued a “neutral” rating and issued a $55.00 price objective (up from $50.00) on shares of Advance Auto Parts in a report on Monday. Truist Financial upped their target price on Advance Auto Parts from $50.00 to $59.00 and gave the company a “hold” rating in a report on Thursday. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 target price on shares of Advance Auto Parts in a report on Friday. Finally, JPMorgan Chase & Co. upped their target price on Advance Auto Parts from $44.00 to $62.00 and gave the company a “neutral” rating in a report on Friday. One research analyst has rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $51.78.

Advance Auto Parts Stock Down 7.0%

NYSE:AAP opened at $47.16 on Friday. The firm has a market capitalization of $2.83 billion, a PE ratio of -7.40 and a beta of 1.08. The stock has a 50 day moving average of $58.07 and a 200-day moving average of $51.59. Advance Auto Parts, Inc. has a 52 week low of $28.89 and a 52 week high of $70.00. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

Advance Auto Parts (NYSE:AAP) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.02 billion. Advance Auto Parts had a negative return on equity of 1.97% and a negative net margin of 4.37%.The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. Advance Auto Parts has set its FY 2025 guidance at 1.750-1.850 EPS. Analysts predict that Advance Auto Parts, Inc. will post -0.46 EPS for the current year.

Advance Auto Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, January 9th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, January 9th. Advance Auto Parts’s dividend payout ratio is -15.70%.

Advance Auto Parts Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.